TY 2014 IRS 990 e-File Render

efile Public Visual Render ObjectId: 201523499349100302 - Submission: 2015-12-15 TIN: 23-7000192

TY 2014 IRS 990 e-File Render

Name:

Bainum Family Foundation

EIN:

23-7000192

Identifier	Return Reference	Explanation
Transactions qualifying for self-dealing exception	Form 990-PF, Part VIII-B	During the year ended June 30, 2015, the Foundation was involved in certain transactions which qualify under the self-dealing exceptions described in Treasury Regulation 53.4941(d)-3.During fiscal year 2015, the Foundation paid $44,847 for accounting professional services to Realty Investment Company, Inc., (Realty) a corporation controlled by the Principal Sponsors and their family. This is conducted under a cost sharing arrangement as allowed under current tax regulations.
Reduction Explanation Statement	Part X, Line 1e	Choice Hotels International Stock: The Principal Sponsors, their descendants and related entities (Family) own a controlling interest in Choice Hotels International (CHH). Given the Family's history with the company, their 42.3% ownership interest in CHH, and the fact that the CEO and several Directors of the Foundation are affiliates of CHH for Securities and Exchange Commission (SEC) Rule 144 purposes, the Foundation has also been treated as an affiliate. As a result, Rule 144 imposes restrictions on the method of the sales as well as restricting the volume of the shares sold in any 90-day period to no more than 1% of CHH stock. Due to these transferability restrictions, the fair value of the CHH stock as of June 30, 2014 was based on the quoted closing market price with an adjustment for restricted marketability. During fiscal year 2015, the Foundation's CHH stock ownership decreased to below 1% of the CHH stock. Therefore, the CHH stock fair value measurement as of June 30, 2015 is based on the quoted market price without discount.